How does your organization assign an ROI to your efforts in social media? Take Twitter for example. Have you been able to actually assign a value to your followers and those 140 character tweets? As CPG gets more serious about investing dollars in social media, this question is going to move front and center.
For Dunkin Donuts, the value of Twitter isn’t in some immeasurable reference to “engagement.” DD is actually using Twitter to create measurable customer data and drive actual sales. How? By giving followers a persuasive reason to interact.
The company’s Twitter efforts (featured here) include tracking customers that sign up for the company’s rewards programs and sweepstakes offers via Twitter, and assigning a dollar value to those customers that can then be tied to an actual ROI. Closing the social media donut hole, if you will (sorry, I couldn’t resist)
Dunkin isn’t the only company using Twitter to drive measurable results (it’s been widely reported that Dell has generated millions of $’s of sales from @delloutlet), but it is great example of how CPG is starting to get more serious about their social media investment.
Having a program to engage the consumer (via an online loyalty program, a sweepstakes, or even your own online store) is going to be critical to the efforts of CPG to move social media spending from the experimental to the mainstream.